On July 16th, 2019 local stakeholders and media were given a Hard Hat Tour for a first look at the old site of the YWCA. 301 E. Third Street between Stevens and Wallenberg streets will now be home to The Marketplace Apartment Complex. The new $19.5 million complex is a 75-unit apartment complex with 4,600 square feet of commercial space and 17 townhouses.
Amenities will include a fitness center, a community center, a gazebo with a barbecue area and a playground. The units will feature stainless steel appliances, and in-unit washers and dryers. The apartments will have balconies and the townhouses will have porches. All units available for move-in by Jan 2020. It is predicted to be a mix of married couples, young professionals, college students, and families. Rent will range from $550- $1200, depending on the size of the space and renter’s income. Businesses have the opportunity to lease one of the approximately 1,500-square-foot commercial spas located below the apartments.
The project is being financed with Tax Credits allocated by the Michigan State Housing Development Authority as well as a grant from a Community Revitalization Program from the Michigan Economic Development Corp. It is also funded by a foundation grant, conventional mortgage and developer equity.
Check out some of the news coverage of the hard hat tour: